Valero Plans to Separate Retail Stations

Valero becomes the latest energy company looking to split its operations.

Associated Press

While reporting its second quarter, the refining company said it has decided it will separate its retail operations in a tax-efficient way. The company says it will review several options for the operations and it has hired Credit Suisse for help.

“As independent companies, both retail and the remaining business will be better-positioned to focus on their industry-specific strategies,” Chairman and CEO Bill Klesse said.